Yup. Bill Ackman, 2020. The Covid-shit year.

There will always be those -albeit few-who make more money than God when the economy goes to shit.

“In the space of three weeks, as Covid-19 was engulfing the globe, Ackman turned a $27 MM premium paid to buy credit default sweeps into a profit of $2.6 Billion. He then reinvested a chunk of that windfall in the long-term positions he wanted to protect by buying the insurance in the first place. Ackman made another $1 Bn.”

WSJ, Sept. 29, 2020 (William D. Cohan)

On an IRR basis, Ackman’s trade is the Greatest Trade of All Time: 100 X his money in 10 days.

In July, Ackman raised the largest SPAC with $4 Bn as we have already pointed in this blog.

“In typical Ackman fashion, he also tried -and failed- to use the SPAC to buy Airbnb and Stripe. Another perfect fit for his SPAC, from his perspective, would be Bloomberg.”

WSJ

Even 28-years are becoming billionaires today.

Covid-19 making riches faster than the speed of light.

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